Real Estate Exam Questions And Answers Rated A+

Principle of Contribution {Ans: How much does an item contribute to the net income of a property?}TILA (Truth in Lending Act) {Ans: -Inform use of consumer credit -Require disclosures about its terms and cost to standardize the manner in which costs associated with borrowing are calculated and disclosed. -A law designed to protect buyers applying for a consumer mortgage with a lender which requires lenders to make upfront disclosure of mortgage rates and charges.}credit {Ans: money received}net listing {Ans: Money received above and beyond a designated amount}insurance companies (as a lender) {Ans: -Prefer income producing properties and long term large industrial projects -Frequently demand to be able to do a participation loan}license {Ans: gives the holder "the personal, revocable and non-assignable authority to do a specific act (or acts) on the land of another."}